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Consider an economy that initially has a labor force of 2000 workers. Of these workers, 1500 are employed . The economy enters a recession. Employment falls by 5%, and in addition 0.4% of the labor force becomes discouraged at the prospect of finding a job and leaves the labor force.
a) Can you calculate the employment rate given the information above? Explain.
b) Calculate the unemployment rate before and after the recession.
c) What is the unemployment rate taking discouraged workers into account?
d) Using Okun's law, calculate the expected percentage change in real GDP.
Given this information, evaluate the following statement: Airlines could have the same effect on demand by eliminating their frequent flyer programs and simply lowering the average ticket price by 10 percent.
Find the optimal level of x and y if U(x,y)=10z+5y x,y>0, and Px=3, Py=1 and I=30. Describe the relationship between x and y. If the price of y doubles, will the consumer change their choice? If so, find the new values of x and y.
Financial management of a department is difficult to say the least. Our departments are labor intensive and have highly technical equipment, both of which are very expensive. Please develop two methods for labor and equipment that would provide quali..
Chloe consumes chicken wing (x) and beer (y). Let Px+Py=M be Chloe’s budget constraint and her utility function is U(x, y)=5xy. Find the formula of income-consumption curve. Find the demand functions of chicken wing.
Sarah bakery makes 1000 items a day. Each day Sarah contributes 8 hours to produce those items. If hired, elsewhere Sarah could have earned $250 an hour. The item sells for $15 each. Production does not stop during weekends. If the explicit costs tot..
Consider the utility function U=(x-θ)^α (y-ρ)^(1-α). (a) Provide an intuitive explanation for this kind of preferences; that is, what roles do θ and ρ play? (b) Solve for the optimal combination of x and y. (c) Solve for the indirect utility function..
Assume that the country initially has no restrictions on trade also then imposes an import quota
q. step 1 select a foreign currency as described above.step 2 perform your research. the content of your textbook can
Why is preference-based discrimination by employers easier to overcome than preference-based discrimination by employees? If arbitrage becomes extensive, a price-discriminating monopolist selling its patented drug in two markets will. Discrimination ..
What is liquidity? Why is money the most liquid of all assets? Explain how the fed increases the money supply when it buys bonds in the open market? What are the three reasons that people want to hold money balances? What kinds of employment are asso..
Reflect upon the strengths, weaknesses, opportunities and threats associated with a business that you are familiar with (one you work at, one you completed your assignments on, or one you have just acquired knowledge about). Suggest two (2) strategic..
A local restaurateur who had been running a profitable business for many years recently purchased a three-way liquor license. This license gives the owner the right to sell beer, wine, and spirits in her restaurant. The cost of obtaining the three-wa..
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